PowerFleet (NASDAQ:AIOT) Releases Earnings Results, Beats Expectations By $0.06 EPS

PowerFleet (NASDAQ:AIOT) released its quarterly earnings results on Monday. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.06, FiscalAI reports. PowerFleet had a negative net margin of 4.16% and a positive return on equity of 0.48%. The business had revenue of $115.72 million for the quarter, compared to the consensus estimate of $114.92 million.

PowerFleet Stock Performance

NASDAQ:AIOT opened at $2.69 on Monday. The company has a market cap of $361.08 million, a price-to-earnings ratio of -19.21 and a beta of 1.42. PowerFleet has a fifty-two week low of $2.29 and a fifty-two week high of $5.88. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.96 and a current ratio of 1.10. The stock has a fifty day moving average price of $2.80 and a 200-day moving average price of $3.47.

Analyst Ratings Changes

Several analysts have weighed in on AIOT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of PowerFleet in a research note on Friday, September 11th. Craig Hallum decreased their target price on shares of PowerFleet from $9.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Barrington Research set a $10.00 target price on shares of PowerFleet in a research report on Monday, August 10th. Zacks Research raised shares of PowerFleet from a “strong sell” rating to a “hold” rating in a report on Monday, October 12th. Finally, Raymond James Financial downgraded shares of PowerFleet from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 11th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.40.

PowerFleet Company Profile

Powerfleet, Inc provides connected-vehicle and asset-management solutions designed to help organizations monitor, manage and optimize mobile assets. Its platform combines Internet of Things (IoT) connectivity, telematics, location tracking and analytics to deliver visibility into vehicles, equipment, cargo and other assets.

The company’s products and services support fleet management, driver safety, vehicle and equipment utilization, maintenance, logistics and supply-chain operations. Powerfleet serves a range of industries, including transportation, logistics, commercial fleets, rental and leasing, construction, manufacturing and other organizations that rely on mobile assets.

Powerfleet has expanded its capabilities through acquisitions and business combinations, including its 2019 acquisition of Pointer Telocation and its 2024 combination with MiX Telematics.